A Southern comedian of the 1960's, Brother Dave Gardner
(not Tom's brother, David Gardner!), said that you can have a
great product and the public might beat a path to your door
-- but advertising helps. And advertising is
marketing.Â
A company can produce a good product, but if it doesn't
market it well, the product could be a flop.
Apple (Nasdaq: AAPL), for example, along with
Coca Cola (NYSE: KO) and
Ralph Lauren (NYSE: RL) are smart
marketers.
Robert Cialdini, who recently visited Fool HQ, says we
need to get real when it comes to how we're marketing our
products -- and part of getting real is admitting weaknesses
upfront.
Cialdini was the Regents' Professor of Psychology and
Marketing at Arizona State University, founder and president
of consulting firm Influence at Work, and author of the book
Influence. His latest book is
Yes!: 50 Scientifically Proven Ways to be
Persuasive.
In his well-known book
Influence-- a book about influence and marketing --
Cialdini lays out six principles of influence as they pertain
to the psychology of marketing:
During Cialdini's visit to The Fool, we delved into the
principle of authority -- the notion that we defer to people
with authority. Someone who has expertise -- credentials,
background, or experience -- that one can use to take short
cuts to make an informed decision.
But it turns out that expertise alone doesn't define the
"optimal authority," according to Cialdini. The optimal
authority is defined not only by expertise and knowledge, but
also by trustworthiness. "It's very important to try to
establish both of those components in the eyes and minds of
an audience before we try to be influential," he said. "If
those two things are present in the way someone registers us
we have become the single most powerful authority, or
communicator that social sciences has ever uncovered."
Establishing trust
Cialdini points out the obvious that the first is
easier than the second. You can represent your background
credentials, experience, years on the job fairly quickly.
Establishing trust can take a period of time traditionally.
But what if you don't have weeks, months or longer? Is there
anything you can do to produce instant trust? Cialdini says
there is.
The secret is to produce your weakness before your
strength. The concept was developed by the advertising
community, which has to introduce new products or services to
markets that have no history with those products and
services.
The most savvy of them will mention a weakness in their
case before they present the strongest argument in favor of
their case. As, counter-intuitive as it might sound, Cialdini
says it establishes them immediately as being credible and
trustworthy. "There's no special reason for people to believe
our most positive claims unless we've demonstrated our
trustworthiness," he said. "So the place the moment of power
actually exists most propitiously for us is in the moment
after we mention a small drawback or a weakness."
Cialdini points to
Berkshire Hathaway 's (NYSE: BRK-A) letter to
the shareholders as an example. He notes that in the letters,
Warren Buffett first describes something that went wrong, but
then follows that with the things that went well.
The power of 'but ...'
According to Cialdini the word "but" says to recipients
in all human languages to take the information they just
received, put it away and focus your attention on the next
thing I'm about to say. "This is why we want our weaknesses
before the word 'but' and our strengths after," he said. "The
weakness has to go first otherwise you don't get the proper
focus on the strength." Continued... |